3i, AMP to buy offshore rescue co ESVAGT for USD 604m

3i Infrastructure Plc (LON:3IN) and AMP Capital have struck a DKK-4.1-billion (USD 604m/EUR 549m) deal to take over Danish emergency rescue firm ESVAGT, which serves the offshore wind industry.

The two infrastructure investors will acquire the business from AP Moeller Maersk A/S (CPH:MAERSK-B) and ESE-Holding A/S, the parties said in separate statements on Tuesday.

Esbjerg-based ESVAGT offers emergency rescue and response vessels along with related services to the offshore wind sector in addition to the oil and gas industry. The company operates in and around the North Sea and the Barents Sea.

The target firm is “well positioned to replicate its success in overseas markets as well as the offshore wind sector, which we believe offers exciting opportunities for the business,” said Boe Pahari, AMP Capital’s global head of infrastructure equity.

The transaction is seen to be wrapped up by the end of September 2015, subject to receiving the green light from the European Commission.

(DKK 1.0 = USD 0.147/EUR 0.143)

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